Chasing the Dragon marks the first film collaboration between Donnie Yen and Andy Lau. A remake of 1991's To Be Number One, Andy portrays corrupt police officer Lee Rock while Donnie plays drug lord Crippled Ho. Despite never having worked together, Andy and Donnie have followed each others career.

Andy said Donnie has a breakthrough role in the film, "I think Donnie really has a chance to win the Best Actor award. I've actually talked about this at my company many times already. During this production, I trust that everyone was able to see Donnie's changes and his dedication. That alone is enough for both a nomination and the actual award."

Besides Donnie, who dropped his Ip-Man image to take on the challenges of playing a drug lord, director Wong Jing is also hoping to make a breakthrough with Chasing the Dragon. Known for his crass and over-the-top films, Wong Jing's last film From Vegas to Macau 3 was criticized for its weak script despite the star-studded cast.